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Before going straight for the mortgage repayment question, I wonder how many take up proper insurances to cover worst case scenarios (i.e. property getting full
by sundvor 9y ago
Before going straight for the mortgage repayment question, I wonder how many take up proper insurances to cover worst case scenarios (i.e. property getting fully trashed in a drug/alcohol binge party scenario) - and how much they cost.
- Sleeep 9y agoI agree with you, however, I just want to point out that a completely destroyed house in a drug binge orgy party isn't even close to the worse case scenario, at least then you can "only" lose 100% of the value of your physical property, maybe ~$300,000. The worse case scenario is someone getting seriously hurt or dying, that could cost millions and has virtually no upper limit - https://medium.com/matter/living-and-dying-on-airbnb-6bff8d600c04 https://medium.com/matter/living-and-dying-on-airbnb-6bff8d6...
- sundvor 9y agoAh, you're completely right - great point. What a horrible story. :(
- k3oni 9y agoFor a property appraised at 400k a short term vacation policy would cost you ~$2100/year .